HDC Hyundai Development Company Wins Yeonsan 10 District in Busan, Achieves 1 Trillion Won in Urban Renewal Orders

Yeonsan 10 District Contractor Selected for 445.3 Billion Won Project
Cumulative Orders Reach 1.3018 Trillion Won, Approaching Last Year's Total

HDC Hyundai Development Company has secured the Yeonsan 10 District redevelopment project in Busan, achieving a cumulative total of 1 trillion won in urban renewal project orders.

Perspective view of the Yeonsan 10 District redevelopment project. Provided by HDC Hyundai Development Company

On May 27, HDC Hyundai Development Company announced that it had been selected as the contractor at the Yeonsan 10 District contractor selection general meeting, receiving 403 votes in favor out of 437 participating union members. The project is valued at 445.3 billion won.

The Yeonsan 10 District in Busan is located at 414-1 Yeonsan-dong, Yeonje-gu, Busan, and involves the construction of seven apartment buildings with 1,166 units, ranging from four basement levels to 37 above-ground floors, along with ancillary welfare facilities. Yeonsan 10 District is a central residential area in Yeonje-gu, offering a pleasant living environment adjacent to the Suyeong River, Oncheon Stream, and Baesan Mountain, with convenient transportation options such as Gwajeong-ro and Gobun-ro.

With this latest contract, HDC Hyundai Development Company has joined the “1 Trillion Won Club” for urban renewal projects this year. Following the Dan-gye Jugong reconstruction in Wonju, Gangwon Province (436.9 billion won) in March and the Gwang-an 4 District redevelopment in Busan (419.6 billion won), the company has secured a total of 1.3018 trillion won, including the Yeonsan 10 District project. As of May, this achievement is already close to last year’s urban renewal project order total of 1.3331 trillion won.

A representative from HDC Hyundai Development Company stated, "For the Yeonsan 10 District in Busan, we will further enhance the competitiveness of I-Park by maximizing the advantages of the location through customized design, thoughtful project proposals, premium design, and the application of the latest AI technology for resident convenience. Based on our accumulated construction expertise and technological capabilities, we will continue to improve the safety and quality of I-Park, striving to create landmarks in key areas of Seoul such as Yongsan and Gangnam."